Qarun Development Lease is a producing conventional oil field located onshore Egypt and is operated by Qarun Petroleum. The field is located in block Qarun Development Lease.
Field participation details
The field is owned by Apache, Korea National Oil and China Petrochemical.
Production from Qarun Development Lease
The Qarun Development Lease conventional oil field recovered 87.55% of its total recoverable reserves, with peak production in 2012. The peak production was approximately 53.35 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2033. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 40.31 Mmboe, comprised of 40.31 Mmbbl of crude oil & condensate. Qarun Development Lease conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.